The How of Business - How to start, run & grow a small business.

382: Business Plans

Jul 26, 2021

Henry Lopez, a small business planning expert and host of a popular podcast focused on entrepreneurship, shares insights on creating effective business plans. He discusses why a business plan is essential for organizing thoughts and validating ideas. Key topics include the Lean Business Model Canvas and the importance of tailoring plans for different audiences. Lopez emphasizes mentorship's role in the planning process, helping entrepreneurs reduce startup risks and achieve their short-term and long-term objectives.

38:11

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Episode guests

Henry Lopez

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Quick takeaways

A well-structured business plan helps entrepreneurs clarify their strategies, achieve their objectives, and communicate their visions effectively to stakeholders.

Understanding the target audience for a business plan is essential, as it influences the document's content and required level of detail for successful communication.

Deep dives

The Purpose of a Business Plan

A business plan serves as an essential document that organizes and clarifies the strategy for launching a new business. It not only allows entrepreneurs to focus on achieving both short-term and long-term goals but also helps in identifying the steps necessary for success. By articulating the business model behind an idea, the plan aids in validating its potential for profitability. This structured approach minimizes chaos during the startup phase, ensuring that the entrepreneur can effectively communicate their vision and assess the feasibility of their business model.

The Essentials of Crafting a Business Plan

7min

Understanding Business Plans: Tools for Success

31min

How to create an effective small business plan to help you develop and launch your small business with Henry Lopez. Do you need a business plan? What should you include in the plan? Who is your business plan for? How do you go about completing a small business plan?

A business plan is a document that organizes and explains your plans for a new business. A good business plan not only helps you focus on the specific steps necessary to make business ideas succeed, but it also helps you achieve short-term and long-term objectives. It also helps to create some order from the chaos that is part of starting a new small business. It helps you communicate your business idea to others, and validate your business model.

Henry Lopez is the host of The How of Business podcast – helping you start, run and grow your small business. The How of Business is a top-rated podcast for small business and entrepreneurs. Find the best podcast, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com

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